Crypto exchanges tout cold storage ratios after Binance attack
Coinbase says it keeps more than 99% of customer assets offline, while Gate reports 88.26% of its total assets are kept in cold storage.
Coinbase says it keeps more than 99% of customer assets offline, while Gate reports 88.26% of its total assets are kept in cold storage.
Crypto exchanges were quick to reassure users following the attack on Binance’s hot wallet infrastructure last week, with several companies disclosing how they divide assets between cold storage and internet-connected hot wallets this week.
Crypto exchange Gate on Thursday launched a “Proof of Security” (PoSEC) framework, reporting that 88.26% of its total assets were in cold storage and 11.74% in hot wallets. It claims its cold storage could cover 104.58% of customer assets even if its hot wallets were completely drained.
On Tuesday, Upbit, the largest cryptocurrency exchange in South Korea, confirmed it holds 99.17% of its assets in cold wallets, with the remaining 0.83% in hot wallets as of September 2026. These figures are already disclosed to the Financial Supervisory Service.